Under an agreement signed in November 2005, the China Great Wall Industry Corp was contracted to design, manufacture, test and put into orbit the VENESAT-1 for Venezuela. The satellite will help Venezuela develop its telecommunications, film and TV industries, culture and education. VENESAT-1 is also called the "Simon Bolivar Satellite," named after the Caracas-born South American independence hero, the Liberator of Five Republics.